The Minister of Petroleum and Mineral Resources, Ali Bin Ibrahim Al-Naimi expressed his thanks to and appreciation of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud and Crown Prince Naif bin Abdulaziz Al Saud, Deputy Premier and Minister of Interior, on the occasion of the issuance of a Cabinet decision yesterday on approving the establishment of North WA'AD City For Mining Industries. Al-Naimi said in a press statement today that the establishment of the City is considered as fulfillment of the promise made by the King to citizens of Northern Borders Region that the Region should take its share of prosperity and development, noting that the Ministry of Petroleum and Mineral Resources and Maaden Company have conducted initial feasibility studies over three years to set up an integrated mining city, northeast of Turaif, in Northern Borders Region, which possesses all elements of industry and sustainable development to provide job opportunities for young people and to develop remote areas. He pointed out that the size of the expected initial investment in the project amounts to SR 26 billion, noting that the project will add annually about SR 15 billion to the Gross Domestic Product, adding that the State allocates a land of 440 square kilometers for the city. For his part, Prince Faisal bin Turki bin Abdulaziz, Adviser at the Ministry of Petroleum and Mineral Resources, expressed his thanks to and appreciation of the Government of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud and the Crown Prince, for approving this national project, pointing out that North WA'AD City For Mining Industries will be a key tributary to economic and social development in the north of the Kingdom of Saudi Arabia.
